2164 W Devon Dr · Citrus Springs, FL 34434

$189,000

2 bd · 1.5 ba · 880 sqft · SingleFamily public records · 53 Days on market

Built 1979 7,762 sqft lot Est $155k · 22% over

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Why this score? — see what drove the F grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.7/30.0
• DSCR +4.1/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.1/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

The perfect opportunity for the full-time or part-time resident. Neat and clean two bedroom, 1.5 bath with garage, lanai and indoor utility room. Includes washer and dryer and newer roof. Located close to the firehouse and ball park. Garage door opener "AS IS", furniture negotiable.

Key facts

• Not in a flood zone
• Utility room
• Screened lanai

Tags

• UTILITY ROOM
• SCREENED LANAI
• PRIVATE FULLY FENCED YARD
• NEW ROOF
• VINYL FENCE
• NOT IN A FLOOD ZONE

Property features AI

Finance

• Other: Property zoned PDR; Lot approximately 0.18 acres (75 x 100), paved road access
• HOA & community: No HOA association indicated; Pets allowed: cats and dogs

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Water connected; Sewer connected
• Home design: Single family residence; Residential property; One story; Faces north; Homestead exempt
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built with living area of 880 square feet (per public records)
• Exterior features: Covered screened patio/porch; Exterior lighting; Private mailbox; Sidewalk

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Tile
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Living room/dining room combo; Thermostat
• Laundry & utility: Inside laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $13 ($155/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (23.9% below list).
• Recommended offer: $144k (23.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 5.1% in Citrus Springs — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 68/100 on livability (#521 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, amenities F.
• Citrus (rural): math 49% / reading 50% proficiency, ranked #44 of 73 in FL (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central Ridge Elementary School (math 41% / reading 44%, grade F, #1,383 of 2,144 statewide, top 65%, 723 students, 64% FRL); Crystal River High School (math 31% / reading 44%, grade F, #336 of 667 statewide, top 51%, 1,249 students, 56% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: 1242 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Citrus County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $144k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $143,857 (23.9% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.76% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.29%
• DSCR: 1.01
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $154,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2155 W Devon	0.03mi	2/1.0	864 (-2%)	3mo	$165,000	$191	91
2170 W Austin Dr	0.06mi	2/1.5	787 (-11%)	7mo	$178,000	$226	74
1817 W Gardenia Dr	0.35mi	3/1.5 (+1)	880 (0%)	8mo	$145,000	$165	72
1872 W Freeman Pl	0.32mi	2/1.0	902 (+2%)	9mo	$147,500	$164	72
1882 W Gardenia Dr	0.36mi	2/1.0	894 (+2%)	10mo	$160,000	$179	70
1919 W Freeman Pl	0.28mi	2/1.0	888 (+1%)	16mo	$155,000	$175	70
2090 W Argus Pl	0.32mi	2/2.0	945 (+7%)	6mo	$167,000	$177	66
2080 W Astor Pl	0.21mi	2/2.0	945 (+7%)	13mo	$140,000	$148	65
2024 W Gardenia Dr	0.36mi	2/1.0	939 (+7%)	13mo	$165,000	$176	59
9440 N Milam Way	0.34mi	3/1.0 (+1)	984 (+12%)	1mo	$164,000	$167	56
9222 N Elliot Way	0.26mi	2/1.0	990 (+12%)	15mo	$174,999	$177	52
1762 W Alhambra Dr	0.67mi	2/2.0	1,000 (+14%)	1mo	$175,000	$175	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.44×
• Total profit: $-29,892
• Equity at exit: $28,181

10-year hold

• IRR: -7.6%
• Equity multiple: 0.52×
• Total profit: $-25,336
• Equity at exit: $16,341

Cash invested: $52,920 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 34434

• Home prices YoY: -2.9%
• Active inventory: 1242
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,439 high
• Mortgage (P&I): −$991
• Tax from tax record: −$54 /mo · $644/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $13

Break-even live

Break-even rent $1,422

Max offer price $189,000

Occupancy floor 94%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9545 N Travis Dr Unit A Citrus Springs, FL	3.0	2.0	1000	$1,350	$1.35	20d	1	0.67mi
9543B N Travis Dr Unit A Citrus Springs, FL	3.0	2.0	1000	$1,350	$1.35	20d	1	0.70mi
9271 N Peachtree Way Unit 9271 Citrus Springs, FL	2.0	2.0	900	$1,300	$1.44	20d	1	0.93mi
9337 N Mendoza Way Citrus Springs, FL	2.0	2.0	984	$1,275	$1.30	20d	1	0.95mi
9437 N Travis Dr Citrus Springs, FL	2.0	2.0	972	$1,325	$1.36	20d	1	0.96mi
9262 N Travis Dr Citrus Springs, FL	2.0	2.0	984	$1,395	$1.42	20d	1	1.05mi

Listing history 22 events

1. 2026-06-19
   days on market $189,000 Active 53 DOM
2. 2026-06-18
   days on market $189,000 Active 52 DOM
3. 2026-06-17
   days on market $189,000 Active 51 DOM
4. 2026-06-16
   days on market $189,000 Active 50 DOM
5. 2026-06-15
   days on market $189,000 Active 49 DOM
6. 2026-06-14
   days on market $189,000 Active 47 DOM
7. 2026-06-13
   days on market $189,000 Active 46 DOM
8. 2026-06-09
   days on market $189,000 Active 43 DOM
9. 2026-06-08
   days on market $189,000 Active 42 DOM
10. 2026-06-07
    days on market $189,000 Active 41 DOM
11. 2026-06-03
    days on market $189,000 Active 37 DOM
12. 2026-06-02
    days on market $189,000 Active 36 DOM
13. 2026-06-01
    days on market $189,000 Active 35 DOM
14. 2026-05-31
    days on market $189,000 Active 34 DOM
15. 2026-05-30
    days on market $189,000 Active 33 DOM
16. 2026-04-27
    listed $189,000 Active
17. 2022-03-14
    soldstatus $143,500
18. 2003-05-27
    soldstatus $39,000 293-char remark

    Show marketing remark (293 chars)

    The perfect opportunity for the full-time or part-time resident. Neat and clean two bedroom, 1.5 bath with garage, lanai and indoor utility room. Includes washer and dryer and newer roof. Located close to the firehouse and ball park. Garage door opener "AS IS", furniture negotiable.

19. 2002-11-14
    listed $45,900 293-char remark

    Show marketing remark (293 chars)

    The perfect opportunity for the full-time or part-time resident. Neat and clean two bedroom, 1.5 bath with garage, lanai and indoor utility room. Includes washer and dryer and newer roof. Located close to the firehouse and ball park. Garage door opener "AS IS", furniture negotiable.

20. 1982-12-01
    soldstatus $28,000
21. 1982-12-01
    soldstatus $32,700
22. 1979-04-01
    soldstatus $31,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $644 · $54/mo
• Projected year-2 tax: $1,569 · $131/mo
• Expected delta: +$925/yr (+$77/mo · 143.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,263
• − Mortgage interest: −$10,587
• − Property taxes: −$644
• − Insurance: −$945
• − Repairs & maintenance: −$1,381
• − Management: −$1,381
• − Depreciation: −$5,498
• Taxable loss: −$3,173
• Est. tax savings @ 24.0%: +$762
• After-tax cash flow: $917/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Citrus
• NCES district ID: 1200270
• Math proficiency: 49% ▼ -10.00%
• Reading proficiency: 50% ▼ -6.00%
• Median HH income: $38,618
• Composite: 41.28/100
• National rank: #3519
• State rank: #44 of 73 in FL

Livability — Citrus Springs

• Score: 68/100
• State rank: #521
• US rank: #9598

Category grades

Amenities F Commute F Cost of living A+ Crime B- Employment D+ Housing A+ Health & safety C- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Citrus Springs, FL
• County: Citrus County · 111,314 people
• City population: 10,730
• Metro: Homosassa Springs, FL
• Population (ZIP): 11,074
• Household income: $68,939
• Rent vs Own: 12.4% rent · 87.6% own
• Severe rent burden: 171.0

Population outlook (Citrus County) Hauer SSP2

• Today (2025): 138,622 people
• By 2030: 136,886 · -1.3%
• By 2040: 132,009 · -4.8%
• By 2050: 125,196 · -9.7%
• By 2075: 108,570 · -21.7%
• By 2100: 84,454 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 11% Hispanic / Latino 9% Black 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Iranian 3% Romanian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Citrus

• 2024 margin: Solid R (+45.9) · D 26.8% · R 72.6%
• 2008→2024 swing: -29.8pp toward R · 2008: -16.1pp · 2024: -45.9pp
• All cycles: 2024: R+45.9 2020: R+41.0 2016: R+39.7 2012: R+21.9 2008: R+16.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -9.70%
• Current HPI: 328.2164
• Rent YoY: —
• Metro: Homosassa Springs, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+509.7% since first listed

7 events — show timeline

• 2026-04-27 Listed $189,000 Stellar MLS as Distributed by MLS Grid
• 2022-03-14 Sold (Public Records) $143,500 Public Records
• 2003-05-27 Sold (MLS) $39,000 RACC
• 2002-11-14 Listed $45,900 RACC
• 1982-12-01 Sold (Public Records) $32,700 Public Records
• 1982-12-01 Sold (Public Records) $28,000 Public Records
• 1979-04-01 Sold (Public Records) $31,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $644 · +12.6% YoY. Source: county tax records.